MWC 2016: Stripe Will Help Startups Set Up ‘Anywhere’

Michael Moore joined TechWeek Europe in January 2014 as a trainee before graduating to Reporter later that year. He covers a wide range of topics, including but not limited to mobile devices, wearable tech, the Internet of Things, and financial technology.

New Atlas platform will allow business to set up in the US quicker than ever by setting up bank and tax accounts

Payment firm Stripe. best known for its work with Apple, has announced Atlas, which lets start-ups create an incorporated company and US bank account without going through often long and complicated steps.

Described by Stripe as “a new way to start an Internet business anywhere”, the company says Atlas is able to greatly streamline the often tricky processes involved with integrating payments into a new business looking to grow,

Streamlined

Atlas, which will initially be invite-only, will cost a one-off fee of $500 to set up, which Stripe says will cover the cost of incorporating a company in Delaware, setting up a bank account in association with Silicon Valley Bank and registering with the Internal Revenue Service.

From there, users will get guidance about U.S. law and taxes from law firms Orrick and PwC, and be given access to tools and resources from Amazon Web Services (as well as $15,000 in AWS promotional credits for beta users).

“We expect Atlas to be most beneficial for entrepreneurs who have a global customer base, plan to raise money from global investors, or who plan to build an operational presence in the U.S,” Stripe wrote on its website for Atlas.

“The promise of the internet is that location matters less. However, geographic barriers and associated complexity make it difficult to start a global business in many parts of the world.”

“Developers around the world should have equal access to the tools and services that are available to those in Berlin and Boston. Atlas is designed to help.”

The new platform will likely integrate with Stripe’s existing Relay service, which lets retailers embed purchasing options directly into sites such as Facebook and Twitter, connecting then closer to their customers than ever before.